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20121204
20121204
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the looming fiscal cliff. talked about business concerns as you head into the end of the year and even what to expect in 2014. bank of america has 55 million customers here in america. they represent one out of every two households. so moynihan has a very good idea about what consumers are doing and if they spending less because of the fiscal cliff. here's what he had to say. >> i'm more about business behavior than consumer behavior. people continue to spend, housing is a little better. all the things that affect stock market are in decent shape. the question was will everything going on cause them on slow down again. >> what are you you see rg businesses right now? >> almost a year and a halving a go, businesses getting concerned about the nature of the dialogue about the fiscal situation? washington and in europe and the issues that had to be dealt with long term and how it affects near term business in terms of what would be accelerated appreciation for investment in business. what will be the final demand. so the uncertainty factor started weighing in and caused everybody to be much mo
of the fiscal cliff is already being felt in business planning for next year and 2014. >> even leading up to that, people becoming more conservative. that's had an impact on what the growth will be in '13 all things being equal and we're in danger if this strings out into '13 that you could have problems of what '14 would look like. >> by 2013 if negotiations get strung out, it will impact decision making and whether or not to build a plant or hire people or expand a division or not. >> which we have heard time and again from many of the leaders and many corporations whether they be financial or otherwise. it comes back to this world. certainty. lack of it. and we don't have a lot of certainty at this point. they still have to do business. not as though they won't come in on january 1st and go to work. they are. >> i was thinking, david, could there possibly be any m&a between now and year end? no. >> maybe a little. >> there will be some. you're less likely to make the big move. less likely to make the big move for a variety of reasons. one of them being you don't know how you're going t
in the future -- your business is in transportation, too -- we are mired in conversations about the fiscal cliff. we are talking about long-term infrastructure, a long term energy plan. >> this is the perfect opportunity for the government to work together to achieve a common goal. there is plenty of times when our interest might not call last with the interest of either of the parties. this is the opportunity we have never had before. you could have consumer, business, and the government's all working together to take advantage of this huge resource. for us, it makes so much sense because it makes business sense. we get about $1.65 a quilt when natural gas. from the government point of view, everybody is talking about jobs and the fiscal cliff. everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices
are in tough economic times, fiscal cliff, the massive not only federal but state level debts at all-time high, the middle east crisis going on. p think will be tough sledding for a few years and tough for businesses to grow top line. they will focus on the bottom line ann expenses and texas can offer a great opportunity for them to have a lower cost of production and wages, lower cost of office space. also a situation where office construction is at a 50 year low so it is simple economics. increasing demand, limited supply, returns will be higher. liz: the traditional investor always looks at 60% stocks, 40% bonds. you said don't do that. look at alternative investments. there are better ways to get yields. >> i agree. especially if you're a long-term investor like a pension plan or individual with 401(k) or retirement accounts. if you have five years, you should look at liquid assets like private equity and real estate. many private equity firms are now starting to tap into individuals and giving them alternatives to invest whereas historically it has only been available to institutions. rea
in our economy. once we resolve the cliff, we need long-term fiscal reduction so that businesses can climb to the future. to get families and businesses certainty, we must agree in the next few weeks on specific spending cuts and specific revenue increases that reduce the deficit to avoid the fiscal cliff. we should not put off the hard decisions with gimmicks or with triggers. that is what got us here in the first place. it is time to bite the bullet and make the tough decisions and make them now. the first thing we should do is immediately and permanently extend the middle-class tax cuts. this will provide needed certainty to america's families and businesses and markets. this decisive action will ensure millions of american families do not see a tax hike of more than $2,000 starting next month. any agreement must also include a long-term extension of the debt ceiling. america cannot afford another debilitating fiscal showdown. has to be a package deal. then we need to enact a long term and, granted the solution. the most serious plan to recommend $4 trillion in deficit reductions
and the fiscal cliff is past approaching. >> thank you very much. we are going to keep with the fiscal cliff and take a look at who is talking. charles krauthammer weighing in on the negotiations. the approach on the president and democrats didn't about the economy at all but rather about politics. >> i am not serious at all about entitlements. the president himself said that's where the money is. on social security he denied there is any effect on the deficit at all. durbin said social security hasn't added a dime to the deficit. in 2012 it added $160 billion of debt. that is more than a dime. there are 2.5 trillion in the trust fund in social security that will take care of it for 20 more years, 25 more years. that means pieces of paper in the trust fund where the treasury says we will pay you. it doesn't have the money. it spent surpluss in the past. that's a promise from the treasury which is pank ru bankrupt. that is infection but they know it. the republicans are bad guys these are good guys. surprising to me the president wokd get the revenues he wants from de deductions and exclusion
in april, 2011. the last minute on the fiscal cliff -- i do not think it is a good way to do business. it seems to be the way we are doing business in this town. host: if we were to go over, what happens? guest: probably, congress would be back in session quickly and we would do something but i am talking about right now, hopefully, and continue to negotiate. it is not to question of dollars and cents. some people have said we could let the rates go up and the republicans could take something down and they could call that a tax cut. people would lose faith in the institution and political leadership. trust is a funny commodity. you have it until you do not. you do not get it back if you lose the trust and then do the right thing the next day. we should convince the country, the markets and the world that america can make smart decisions and tough compromises. this would be a step in the right direction of showing we can work together, and we could put the people first. we have differences and we could fight without putting them in harm's way. host: roger altman writes in "the financia
of an agreement for the fiscal cliff? >> we're not going to negotiate over what is a fundamental responsibility of congress which is to pay the bells that congress incurs. it should be part of the deal, it should be done, and it should be done without drama. we cannot allow our economy to be held hostage again to the whims of an ideological agenda. it's -- we are the united states of america. we are the greatest economy on earth. we pay our bills, we always have. if congress wants to reduce spending, that should be part of the negotiations. that go into making digs about how we spend -- the programs we spend money on. and the president is very interested in reducing spending an reducing our deficit but you don't default on the economy. that is -- we saw -- we saw what happened in 2011. and it's unacceptable. >> disease did the president have a chance to speak to any republicans last night at the reception here about the fiscal cliff? >> the president and first lady met with scores and scores of lawmakers last night, as is the norm in a situation like this, but i'm not going to read out individu
Search Results 0 to 7 of about 8